What’s the difference between renovations and remodeling? Can you explain what to expect during a home renovation or remodeling project? Are renovations or remodeling projects tax deductible? What types of renovations or remodeling projects are most popular?
Renovations fix & update existing spaces, like painting or flooring. Remodeling changes the structure or layout, like adding a room. During projects, expect disruptions, budgeting, and time delays. Tax deductibility varies; some energy-efficient upgrades may qualify. Popular projects include kitchen upgrades, bathroom remodels, and outdoor spaces. Always consult a tax pro for specifics!